Solar companies are predicted for explosive growth. Why? The cost of producing electricity is lower than fossil fuels, which means that you can make more money using solar than fossil fuels like oil.
Already this year many solar companies have had amazing growth and profits. It is a good feeling knowing that our energy supply is slowly getting cleaner, even if the cause is greed not concern. If something good happens for the wrong reasons, I can live with that.
This means that if you are investing in environmental stocks your profits are increasing. Remember how I said that I was only going to invest in pro-social funds? Well I have done that and in the last two months it has grown more than it did then the last 2 years with the previous 401k. Right now it is an IRA so its not completely fair to judge it the same, and I know that the market has grown rapidly recently but it was doing better once it was involved in the environmental stocks even with the recent run on the market. I spoke about it before and it is called Betterment.
It is amazing isn’t it? You can help others and do ok financially. There is research that shows that socially responsible companies outperform other companies like them that are not socially responsible. The theory is that they are better managed, and I believe this is true. Every company lives or dies by its management. I have seen this up close and personal. I have worked for many companies that had financial problems and it was directly related to the mistakes made by management and not listening to the employees.
What kind of growth should we expect in the future for solar companies? I don’t know the future, but I would expect more of the same. The time for oil is over and we are witnessing a change in consumption that I hope will continue into other areas. I am so grateful to be part of the time I am in.